Despite several months of rising home sales prices [the Reno-Sparks median sales price is up 31 percent Y-o-Y] the number of licensed brokers and agents throughout the state continues to decline — as agents leave the business voluntarily, or otherwise. According to the most recent data released by the State of Nevada Real Estate Division the number of licensees has hit yet another new low.
The Real Estate Division has licensee data going back to April 2007. Since that time, statewide, Active licensees has fallen nearly 32 percent. The number of Inactive licensees (those placing their licenses on ice temporarily) has plummeted more than 52 percent — an indication those former agents are likely not to return to the business. Combined, the number of Active and Inactive licensees in the state has fallen more than 36 percent over the past six years.
Washoe County-wide, Active licensees has dropped more than 21 percent since 2007. The number of Inactive licensees has fallen over 58 percent. Combined, the number of Active and Inactive licensees in the County has fallen more than 32 percent.
| Active | Inactive | Total | |
|---|---|---|---|
| April 2013 | 2,490 | 543 | 3,033 |
| September 2012 | 2,506 | 555 | 3,061 |
| May 2012 | 2,517 | 587 | 3,104 |
| January 2012 | 2,537 | 623 | 3,160 |
| June 2011 | 2,574 | 699 | 3,273 |
| February 2011 | 2,578 | 744 | 3,322 |
| March 2010 | 2,644 | 803 | 3,447 |
| November 2009 | 2,737 | 779 | 3,516 |
| September 2009 | 2,737 | 796 | 3,533 |
| August 2009 | 2,725 | 817 | 3,542 |
| March 2009 | 2,770 | 1,022 | 3,792 |
| December 2008 | 2,888 | 1,001 | 3,889 |
| September 2008 | 2,791 | 1,011 | 3,802 |
| June 2008 | 2,984 | 1,085 | 4,069 |
| January 2008 | 3,104 | 1,142 | 4,246 |
| October 2007 | 3,176 | 1,134 | 4,310 |
| August 2007 | 3,229 | 1,137 | 4,366 |
| June 2007 | 3,221 | 1,237 | 4,458 |
| April 2007 | 3,166 | 1,304 | 4,470 |
| Active | Inactive | Total | |
|---|---|---|---|
| April 2013 | 19,719 | 3,704 | 23,420 |
| September 2012 | 19,832 | 3,642 | 23,474 |
| May 2012 | 19,925 | 3,855 | 23,780 |
| January 2012 | 19,987 | 4,264 | 24,251 |
| June 2011 | 20,395 | 4,861 | 25,256 |
| February 2011 | 20,744 | 5,276 | 26,020 |
| March 2010 | 22,139 | 5,652 | 27,791 |
| November 2009 | 22,612 | 5,802 | 28,414 |
| September 2009 | 22,865 | 5,943 | 28,808 |
| August 2009 | 22,920 | 6,066 | 28,986 |
| March 2009 | 23,466 | 7,448 | 30,914 |
| December 2008 | 24,327 | 7,457 | 31,784 |
| September 2008 | 23,814 | 7,345 | 31,159 |
| June 2008 | 25,986 | 7,518 | 33,504 |
| January 2008 | 26,997 | 7,470 | 34,467 |
| October 2007 | 28,115 | 6,970 | 35,085 |
| August 2007 | 28,548 | 6,988 | 35,536 |
| June 2007 | 28,763 | 7,418 | 36,181 |
| April 2007 | 28,886 | 7,723 | 36,609 |
Source: Nevada Real Estate Division
Related post: Number of licensees numbers continue to decline (November 2012)
Guy Johnson
A recent story in MSN Money tells of some markets across the U.S. experiencing a recent surge in the number of new real estate agents entering the business — see This trend could signal a new housing bubble – Here we go again. The number of Realtors is rising, fueling concerns about an overheating real estate market.
Could this trend be coming to the Reno-Sparks market next? After six consecutive years of declining agent count coupled with 18 months of rising home prices, I would not be surprised.